Topic: Countrywide Financial Corporation

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Lance Armstrong doping case closed

Lance Armstrong was gratified to learn that the investigation into his alleged doping has been closed.
Bank of America in $335M settlement over lending discrimination case

The settlement with the US Justice Department was filed Wednesday with the Central District court of California and is subject to court approval. The DOJ says it's the largest settlement in history over residential fair lending practices.
Foreclosures: new wave is coming in 2012

Foreclosures are in a seasonal slowdown, but evidence suggests a new surge of foreclosures will arrive in 2012.
Occupy Wall Street: Who are targets of 'millionaires march'?

Occupy Wall Street protesters Tuesday marched on the residences of some of the power brokers who they say are responsible, at least in part, for the nation's economic ills.
US sues biggest banks over risky mortgages

Government lawsuit claims 17 banks, including Bank of America, Citigroup, and JP Morgan, misrepresented the value of $196 billion worth of mortgage-backed securities when it sold them to Fannie Mae and Freddie Mac.
Bank of America stock surges on Buffett buy

Bank of America stock has been snapped up by Warren Buffett. News of his $5 billion investment sent Bank of America stock soaring.
Bank of America accused by anonymous website of hiding data

Bank of America: Anonymous leaker releases e-mails purporting to show employees requesting the purging of loan documents. But Bank of America says 'extravagant' claims untrue.
Why the film industry chose former Sen. Chris Dodd to run the MPAA

Former Sen. Christopher Dodd is the new chairman and CEO of the film industry's MPAA, taking a position filled for four decades by the flamboyant Jack Valenti.
Mortgage modifications part of Countrywide settlement

Mortgage modifications, restitution, and relocation aid part of $6.5 million settlement to help Countrywide's foreclosed homeowners.
Obama team braces for Rep. Darrell Issa, avid investigator

Rep. Darrell Issa, who is set to take over the chairmanship of the House Oversight and Government Reform Committee, has made no secret of his love of hearings. He wants hundreds of them.
Paper Economy
The housing disaster(s)

Considering the industry-wide scam perpetrated by borrowers, mortgage brokers, real estate agents, originators, GSEs, and private banking, no one should be surprised by the scale of the damage.
Countrywide CEO Mozilo settles with SEC for $67.5M

Countrywide CEO Angelo Mozilo has agreed to a $67.5 million settlement to avoid trial on fraud and insider trading charges that alleged he profited from risky mortgages he signed off on before the collapse of the housing market.
Next after Obama signing of financial reform bill: Fannie Mae, Freddie Mac

After signing the financial reform bill, Obama must work to end the corruption inherent in any federal institution designed to boost homeownership. Congress was bought off by the housing industry to lower lending standards, creating the market bubble. Fannie Mae and Freddie Mac need to go.
Paper Economy
Ticking prime bomb: Fannie Mae delinquencies rise

The level of mortgage delinquency at Fannie Mae continues to mount.
Paper Economy
Ticking prime bomb: Fannie Mae monthly summary

Fannie Mae's numbers from December 2009 show the that it – and US taxpayers – aren't out of the woods yet.
Exits of two senior senators mostly bad news for Democrats

Retirement of Sen. Byron Dorgan means it will be harder for Democrats to keep their filibuster-proof Senate majority after 2010. But the exit of Sen. Christopher Dodd improves Democrats' chances of holding onto his seat.
JPMorgan earnings show 'too big to fail' banks getting bigger

JPMorgan Chase's surging earnings show that many of the biggest US banks are becoming more powerful. What happens if they get in trouble again?
Obama 'pay czar' lacks clout to stop $198 million in AIG bonuses

The special inspector general for the government’s financial rescue program told Congress Wednesday that the ongoing bonus quandary was 'a mess.'
Movie review: 'Capitalism: A Love Story'

Michael Moore's amorphous, told-you-so attack is short on remedies.
Key health care senators have industry ties

Senator Chris Dodd, among other senators involved in upcoming health care legislation, have family ties or financial investments in the industry they are meant to reform.
Bank of America's $1.8 billion loss dims its prospects

Bank didn't foresee 'significant deterioration' in December. Merrill Lynch deal weighs on its future.
Ride out Wall Street's hurricane

The real reasons we're in this mess – and how to clean it up.
Lawmaker ethics. An oxymoron?

Democrats promised to make Congress more ethical. Did they succeed? A little ... maybe.
Dean defends Obama's choice of vice-presidential vetter

The Democratic National Committee chairman played down James Johnson's role in Obama's campaign and hit back at the Republicans at Wednesday's Monitor breakfast.
Johnson resigns post in Obama camp in flap over home loans

He'll no longer head vice-presidential search committee, a casualty of what DNC Chairman Dean had called 'a Republican-planted story.'